Options for Eligible Employees. Eligible employees may enroll dependents in the medical, dental and vision plans. Full- time employees will pay ten (10%) of the dependent coverage. This cost shall be deducted from the employee's paycheck.
Options for Eligible Employees. The Vendor shall procure that each Eligible Employee will have the option as at the Transfer Date to transfer his interest in the Vendor's Scheme either to the Purchaser's Scheme or to another approved pension policy or to retain his benefits in the Vendor's Scheme, and in each case the benefits under the Vendor's Scheme will be calculated on a past service reserve basis, such calculation to be on a basis commonly used in respect of the withdrawal of participating companies as set out in Clause 14 of the Trust Deed and Rules of the Vendor's Scheme. 5 No assistance to be given by the Purchaser The Purchaser undertakes to take no action or assist (whether directly or indirectly) any Eligible Employee or any other person in any claim against the Vendor's Scheme which would result in the Vendor's Scheme having to pay a larger amount than the value referred to in Paragraph 4 above to the Purchaser's Scheme. to Ninth Schedule PROJECT ARGENT -------------- Summary of Proposed Employee Benefit Schemes -------------------------------------------- Group Personal Pension Scheme ----------------------------- . Contributions: Employer : 8% of total earnings Employee : 2% of total earnings . Benefits; see attached illustration of retirement Benefits
